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CFPB: Are They Coming to Get You?

Jeff For Banks

A bank trade association CEO asked me a couple of questions while he was researching an op-ed piece. Shouldn't the CFPB work to address the impediments to starting a bank in LMI markets rather than punish community banks who scrambled to serve their customers when the economy shut down? The edited Q&A is below.

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How Can Banks Thrive in the Next Five Years?

Jeff For Banks

The money market mutual fund became a formidable competitor to the bank account. First Internet Bank in Indiana was founded in 1998. They once held all of the keys to the banking kingdom. They are/were the business owners, demanders of capital and loans, and significant depositors. I'm bullish on community banking.

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Deposits: Do you want a relationship or fries with that?

Jeff For Banks

First Internet Bank of Indiana is primarily a pure Internet play that does not enjoy the same brand splash as ING. A similar case was made in a comment letter to the FDIC on behalf of BancVue, a software development company that provides Rewards Checking product technology to community banks.

Indiana 60
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Onovative Raises $1 Million in New Funding

Fintech Labs Insights

“(We) feel that this round of funding gives us the ability to continue to achieve our vision of providing community banks and credit unions with software that is simple to use and affordable.” Currently deployed in banks and credit unions across the U.S.,

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Finovate Debuts: Onovative’s CoreIQ Brings Automated Marketing Technology to Banks

Fintech Labs Insights

CoreIQ is a marketing automation system developed by Onovative that speeds onboarding and broadens cross-selling opportunities for community banks and credit unions. Onovative sees its technology as a challenge to the Salesforces of the World, and similar platforms. Headquartered in Jeffersonville, Indiana. How it Works.